Figure 4-24 -Refer to Figure 4-24. the Per Unit Burden of the Burden

question 133

Multiple Choice

Figure 4-24
-Refer to Figure 4-24. The per unit burden of the tax on buyers is

• A)P₃ - P₁.
• B)P₃ - P₂.
• C)P₂- P₁.
• D)Q₂ - Q₁.

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Definitions:

Rental Price

The cost of using or occupying property or equipment for a specified period.

Average Productivity

The output produced per unit of input, such as labor or capital, on average.

Total Output

The total quantity of goods and services produced in an economy over a given period of time.

Capital Stock

The total amount of physical goods existing in a company or economy that can be used to produce more goods and services.